September 2023 stats

The major Hawaiian islands’ real estate markets each have unique traits. On Oahu, condos average $624,700 on the list, while mansions average $1.4 million. Homes normally sell for 98.26% of their asking price, while condominiums typically sell for 98.18%. A robust market is indicated by the average price per square foot of $647.33 for houses and slightly higher $670.07 for condos. On Oahu, homes go quickly; they typically take 19 days to sell, whereas condos take slightly longer—23 days.

With homes on Maui at $1.8 million and condos at $1.1 million, the island has higher average costs. For houses, sellers typically get 94.83% of their market price, and for condos, a healthy 98.10%. Homes cost $843.75 per square foot and condominiums $1,122.22, which is a pretty high price per square foot. On the other hand, homes and condos on Maui typically remain on the market for 105 and 104 days, respectively.

With average home prices of $1.7 million and condominiums at $819 thousand, Kauai offers a more moderate market. Homes here sell for 93.10% of their advertised price, while condominiums sell for 96.64%. For residences, the price per square foot is $976, while for condominiums it is $916. Homes in Kauai sell at a somewhat faster rate than condominiums, with an average of 58 days for a home and 36 days for a condo.

On the Big Island, where average house costs are $789,000 for homes and $912,000 for condominiums, there are more reasonably priced possibilities. Here, properties usually sell for close to market price; residences sell for 96.84% and condominiums for a robust 98.95%. Notably, condos are more reasonably priced at $708.13 per square foot, whereas residences are substantially more expensive at $2,919.61. For homes, the average period on the market is 61 days, while for condominiums, it is 36 days. These figures demonstrate how Hawaii’s islands have different real estate markets that suit different price points and tastes.

Thank you to our friends at Title Guaranty for providing this information.

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